Stock traders buy large volume of put options on TC Energy (NYSE:TRP)

TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) saw unusual options trading activity on Wednesday. Equity investors bought 16,157 put options on the company. This is a 1,446% increase from the typical volume of 1,045 puts.

Several institutional investors have recently increased or reduced their stake in the company. Capital Research Global Investors increased its holdings of TC Energy shares by 6.5% during the fourth quarter. Capital Research Global Investors now owns 39,679,860 shares of the pipeline company worth $1,845,421,000 after purchasing an additional 2,435,667 shares during the period. Capital World Investors increased its position in TC Energy by 53.1% in the fourth quarter. Capital World Investors now owns 33,967,849 shares of the pipeline company valued at $1,579,861,000 after purchasing an additional 11,784,737 shares during the period. Capital International Investors increased its stake in TC Energy shares by 14.0% during the fourth quarter. Capital International Investors now owns 33,803,122 shares of the pipeline company worth $1,572,565,000 after purchasing an additional 4,155,520 shares last quarter. Wellington Management Group LLP increased its position in TC Energy shares by 8.3% in the third quarter. Wellington Management Group LLP now owns 22,804,039 shares of the pipeline company worth $1,097,267,000 after purchasing an additional 1,747,817 shares during the period. Finally, Mackenzie Financial Corp increased its stake in TC Energy shares by 1.5% in the fourth quarter. Mackenzie Financial Corp now owns 16,536,596 shares of the pipeline company valued at $769,111,000 after buying an additional 241,965 shares last quarter. Institutional investors hold 70.11% of the company’s shares.

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TRP opened at $56.00 on Thursday. TC Energy has a 12-month low of $44.77 and a 12-month high of $59.06. The company has a 50-day moving average of $56.07 and a two-hundred-day moving average of $52.00. The company has a debt ratio of 1.55, a current ratio of 0.57 and a quick ratio of 0.51. The stock has a market capitalization of $54.95 billion, a price-to-earnings ratio of 21.29, a growth price-to-earnings ratio of 3.91 and a beta of 0.71.

TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) last released its results on Friday, April 29. The pipeline company reported earnings per share (EPS) of $1.12 for the quarter, beating Thomson Reuters consensus estimate of $0.90 by $0.22. The company posted revenue of $3.50 billion for the quarter, versus $3.60 billion expected by analysts. TC Energy had a net margin of 24.96% and a return on equity of 14.59%. The company’s quarterly revenue increased 3.5% year over year. During the same period last year, the company earned earnings per share of $0.89. Equity research analysts expect TC Energy to post earnings per share of 3.35 for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 29. Shareholders of record on Thursday, June 30 will receive a dividend of $0.72 per share. This represents a dividend of $2.88 on an annualized basis and a dividend yield of 5.14%. This is an increase from TC Energy’s previous quarterly dividend of $0.71. The ex-dividend date is Wednesday, June 29. TC Energy’s dividend payout ratio is currently 109.51%.

Several equity research analysts have recently commented on the company. StockNews.com launched coverage on TC Energy in a research note on Thursday, March 31. They have set a “holding” rating on the stock. Wolfe Research downgraded TC Energy from a “peer performing” rating to an “underperforming” rating and raised its target price for the company from $53.00 to $57.00 in a Monday report. April 11. Morgan Stanley downgraded TC Energy from an “equal weight” rating to an “underweight” rating and set a price target of $78.00 for the company. in a research report on Tuesday, April 26. They noted that the move was a review call. Raymond James upgraded TC Energy shares from a “strong buy” rating to an “outperform” rating in a Wednesday, Feb. 16 research note. Finally, BMO Capital Markets raised its price target on TC Energy shares from C$70.00 to C$73.00 in a Wednesday, February 16 research report. Four research analysts gave the stock a sell rating, seven issued a hold rating and three gave the company a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $67.17.

TC Energy Company Profile (Get a rating)

TC Energy Corporation is an energy infrastructure company in North America. It operates through five segments: Canadian Gas Pipelines; American gas pipelines; Mexican gas pipelines; Liquid pipelines; and power and storage. The company builds and operates a 93,300 km pipeline network, which transports natural gas from supply basins to local distribution companies, power plants, industrial facilities, interconnecting pipelines, export terminals LNG and other companies.

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